How does one one get off foodstamps?

[tttppp]

If a restaurant is turning a profit then people will invest in it, regardless of how crappy the food might be. Why else would McDonald's have a market cap of 98 billion. Remember for investors and venture capitalists it is all about the bottom line.



It takes more than a good idea to get investors. You need to have a demonstrated revenue stream and skin in the game. Have you ever sought investment capital for a business venture? I have and I know that it is extremely difficult to get money unless you already have something in place. Investors do not invest in ideas, they invest in businesses. What he has is an idea, it may be a good one, but he needs to invest his own money to prove it is a viable commodity before he can expect others to partner with him. Unless of course they are family or friends that will take a stake in him - but people from the outside are not going to invest in an idea.

I have friend in the business. He and his wife started out young, in their early 20's. They were both in the industry for a few years when they decided to open their own place. To get the money, he tended bar and she waited tables about 80 hours per week. They lived in a one bedroom apartment, they had one car between the two of them - they denied themselves every luxury most of us take for granted. They saved up enough cash over a few years (about 200K) and started a small place, they built it up over the years and now (about 15 years later) they never have to work another day for the rest of their lives. In fact they started a second restaurant about 5 years ago, built that one up and sold it for 2.5 mil. They still have their first place.

But there is a difference between them and what the OP has talked about - they worked their asses off, 2 jobs a piece for years to get to where they are. The OP has not expressed that level of commitment in his posts.

There is a huge market available for someone who wants to sell real food. Take it from the perspective of someone who only eats healthy foods, there are hardly any restaurants you can go to that sell you healthy foods. I would like to eat out more, but there is not much available.

I've sought capital before, and you are right that many investors want you to have an established business and want you to have exhausted all your money and your friends and family's money. But what really sells investors is having one simple compelling concept that is capable of making a ton of money. Anyone who has tried to eat healthy knows there is a huge gaping hole in the restaurant/health food industry. I am confident that if I wanted to, I could sell this concept to investors. The bigger issue is is this guy going to do everything that is necessary to make that business successful. I don't know that answer. I don't know him. But thats something he would have to demonstrate to get money.

 

[tbone717]

There is a huge market available for someone who wants to sell real food. Take it from the perspective of someone who only eats healthy foods, there are hardly any restaurants you can go to that sell you healthy foods. I would like to eat out more, but there is not much available.

I've sought capital before, and you are right that many investors want you to have an established business and want you to have exhausted all your money and your friends and family's money. But what really sells investors is having one simple compelling concept that is capable of making a ton of money. Anyone who has tried to eat healthy knows there is a huge gaping hole in the restaurant/health food industry. I am confident that if I wanted to, I could sell this concept to investors. The bigger issue is is this guy going to do everything that is necessary to make that business successful. I don't know that answer. I don't know him. But thats something he would have to demonstrate to get money.

I understand where you are coming from, but understand that concepts are a dime a dozen. And honestly, there is nothing preventing an investor from hearing an idea and taking it for his own. There is no patent on good ideas. Unless someone is financially invested in an idea, they have little to offer potential investors. A patent, well that is a different story because there is IP in the patent, but a really good idea for a restaurant is not going to get someone to fork over the necessary cash to get it running unless the person comes to them with capital.

Now let's say you have 100K of your own money and need another 100K to get going - well in that case you have something to offer, but if all you have is an idea on paper, you aren't going to get far.Now you may be able to sell the idea to investors for a small amount of money, but having long term equity in the business requires you having some skin in the game. Investors are looking for one thing - a return on their money. They aren't looking to work for it, that is what the money does for them.

 

[psi2941]

--

palm there is nothing wrong with taking food stamps. fuk those people who give u the moral argument blah blah blah, its you vs the government. if you did a financial balance sheet of all your income vs taxes, even a bum pays 10-20% in taxes though "user tax" such as sales, fee, etc.. you should do everything in your powers to get that money back including going on food stamps if your eligible and staying on the food stamps long as possible.
bottom line, you can't think it as a handout or helping out, u need to think of it as getting money back.


EDIT: then u get the fucked up people who say "hey my taxes are going to pay for that" technically no. his grand children is going to pay for that. (plus if u even audit those fucked up republicans, most of them are on different welfare like social security, army pension, or government pension.)

 

[tbone717]

One of the other problems with Food Stamps is that it is a trap into the system. I quick looked up the eligibility requirements and a single person earning less than $1037 per month is eligible. So where is the incentive for someone to go out and get a job that pays them more money? If you are making $1000 per month and getting government hand outs via food stamps, why would you take a job that pays you 1200 a month and lose your benefit?

This is something that the progressives knew would occur which is why the plan itself is so destructive to people. This, along with other forms of welfare, enslave people into a government system that many can't or won't ever get out of. It was just on the news today that one in seven people are getting food stamps now - that is a problem that will only get worse, unless we change the system and the overall culture of entitlement that we have in this country.

We need to go back to the way things were done in that past with charities taking care of the poor and needy. That way individuals can monitor people's progress and get them off the handouts rather than enslaving them to a life of welfare.

There used to be a church program in an area we used to live in. When they had someone come to them that was in need, someone from the church would sit down with them and go over their finances. Until they got rid of every luxury (cable, internet, gym memberships, etc) they would not get anything from the charity. They were then mentored by someone who would show them how to live within their means and help them improve their situation. A far better solution for those experiencing a temporary set back in life.

 

[heavenlyboy34]

One of the other problems with Food Stamps is that it is a trap into the system. I quick looked up the eligibility requirements and a single person earning less than $1037 per month is eligible. So where is the incentive for someone to go out and get a job that pays them more money? If you are making $1000 per month and getting government hand outs via food stamps, why would you take a job that pays you 1200 a month and lose your benefit?

This is something that the progressives knew would occur which is why the plan itself is so destructive to people. This, along with other forms of welfare, enslave people into a government system that many can't or won't ever get out of. It was just on the news today that one in seven people are getting food stamps now - that is a problem that will only get worse, unless we change the system and the overall culture of entitlement that we have in this country.

Add price and currency inflation in, and it's a nightmare.

 

[jcannon98188]

palm there is nothing wrong with taking food stamps. fuk those people who give u the moral argument blah blah blah, its you vs the government. if you did a financial balance sheet of all your income vs taxes, even a bum pays 10-20% in taxes though "user tax" such as sales, fee, etc.. you should do everything in your powers to get that money back including going on food stamps if your eligible and staying on the food stamps long as possible.
bottom line, you can't think it as a handout or helping out, u need to think of it as getting money back.


EDIT: then u get the fucked up people who say "hey my taxes are going to pay for that" technically no. his grand children is going to pay for that. (plus if u even audit those fucked up republicans, most of them are on different welfare like social security, army pension, or government pension.)

Oh its FINE! Take the Food Stamps. After all, its not us that pays for it, its your grandchildren!

Real wonderful argument there genius. How the hell does a person who claims to support freedom even think something like this? It is thinking like yours that got us all screwed in the first place. Idiot.

 

[tttppp]

I understand where you are coming from, but understand that concepts are a dime a dozen. And honestly, there is nothing preventing an investor from hearing an idea and taking it for his own. There is no patent on good ideas. Unless someone is financially invested in an idea, they have little to offer potential investors. A patent, well that is a different story because there is IP in the patent, but a really good idea for a restaurant is not going to get someone to fork over the necessary cash to get it running unless the person comes to them with capital.

Now let's say you have 100K of your own money and need another 100K to get going - well in that case you have something to offer, but if all you have is an idea on paper, you aren't going to get far.Now you may be able to sell the idea to investors for a small amount of money, but having long term equity in the business requires you having some skin in the game. Investors are looking for one thing - a return on their money. They aren't looking to work for it, that is what the money does for them.

It depends on the entrepreneur. If investors feel like he can get the job done, there's really no reason not to invest if they like the concept.

I really don't feel like concepts are a dime a dozen. Usually the person who invents the concept is the best person to actually run it. Other people can try and copy it, but if they don't truly understand it, they are not going to get the same results as the person who invented it. One example I can give is the system I designed as a manager to help run our business. Nomatter how great I was at developing new supervisors to run the place, they could never run my system as good as me when I wasn't there. You just can't replace a great leader who knows the rules inside and out.

If investors don't want to work for their return, why would they want to steal your idea and run it themselves? The safe money would be to invest in someone who is willing to do the dirty work and who can up with the concept himself.

I've heard investors give speeches similar to yours, so there is some validity to that. I've read all these bullshit things investors say they want a potential investment to have, but when you are presenting to them the one thing they are focused on his your CONCEPT.

 

[psi2941]

Oh its FINE! Take the Food Stamps. After all, its not us that pays for it, its your grandchildren!

Real wonderful argument there genius. How the hell does a person who claims to support freedom even think something like this? It is thinking like yours that got us all screwed in the first place. Idiot.

what does supporting freedom have to do with to protecting your expenses.

So lets say a business owners who grosses 250k in profit per doesn't want to pay the 30% income tax because that's just insane to pay 30% of your income to the government and instead pays himself according to the law a reasonable wage of his services of 30k per year. Then after that he pays himself as corporate dividends at the rate of 15%. is that wrong too? according to the spirit of the law he should be paying about 30% but now he really is only paying 16-17%. are all those Americans are the problem too? (mitts been doing this for years) (steve jobs too, his salary was 1 dollar per year)

EDIT: honestly, i would not even bother with all this bs, if it wasn't for the government taking too much. even a church who operate on a voluntary 10% basis does a better job then a government who forces everyone to pay around 50% if u include every tax and hidden tax.

 

[presence]

One of the other problems with Food Stamps is that it is a trap into the system. I quick looked up the eligibility requirements and a single person earning less than $1037 per month is eligible. So where is the incentive for someone to go out and get a job that pays them more money? If you are making $1000 per month and getting government hand outs via food stamps, why would you take a job that pays you 1200 a month and lose your benefit?

This is something that the progressives knew would occur which is why the plan itself is so destructive to people. This, along with other forms of welfare, enslave people into a government system that many can't or won't ever get out of. It was just on the news today that one in seven people are getting food stamps now - that is a problem that will only get worse, unless we change the system and the overall culture of entitlement that we have in this country.

Exactly... why would you want to EARN an extra $100 per month when it would cause you to lose a $500/mo benefit?


I see this as the major problem with the "food stamps" etc. system as well. It creates INCENTIVE to keep below requirements because the moment you're a penny over... you lose hundreds per month.

CITIZENS's DIVIDENDS

I think the "food stamp" system is necessary... there are many genuinely needy that would starve without the program (there are many a senile, severely handicapped, mentally ill, etc. amongst us). The GREATEST problem lies in the disincentive created when you're at the poverty line to ever make it above the poverty line; when you're kinda handicapped, but could get by with great effort; when you're unemployed and could get a job but are floating on benefits.... I think every man woman and child should get stamps; equal rations for all... For those that need them... they eat. For those that don't need them... they're a kick back on what you pay in... and you still eat. For those that are at the poverty line... they are a safety PLATFORM for ALL instead of a safety NET for the failing: a platform from which to improve yourself, take risk, and grow economically without ever having to worry about losing your benefit and being worse off just because you get a $1 raise. And for those that want to give them back... I say you get a income tax % reduction every year you decline your dividend.

I think if we're going to have welfare programs... then they should not be for the needy, but for all. Entitlements for "degenerate" groups only creates more degenerates; its like feeding rats.


thoughts?

flames?

presence

 

[tbone717]

It depends on the entrepreneur. If investors feel like he can get the job done, there's really no reason not to invest if they like the concept.

I really don't feel like concepts are a dime a dozen. Usually the person who invents the concept is the best person to actually run it. Other people can try and copy it, but if they don't truly understand it, they are not going to get the same results as the person who invented it. One example I can give is the system I designed as a manager to help run our business. Nomatter how great I was at developing new supervisors to run the place, they could never run my system as good as me when I wasn't there. You just can't replace a great leader who knows the rules inside and out.

If investors don't want to work for their return, why would they want to steal your idea and run it themselves? The safe money would be to invest in someone who is willing to do the dirty work and who can up with the concept himself.

I've heard investors give speeches similar to yours, so there is some validity to that. I've read all these bullshit things investors say they want a potential investment to have, but when you are presenting to them the one thing they are focused on his your CONCEPT.

From my own experience in business (which is over 25 years), I never knew of someone who had an idea alone and was 100% financed through outside investors, especially something as generic as a restaurant. Yeah, yeah I know he has a really cool restaurant idea, but restaurants as a whole are a very risky investment.

When it comes to investments, concept is important, but what matters the most is the potential return on investment and that can only be demonstrated through a track record of existing sales. It would be really hard to convince me that a restaurant being run by someone with no previous restaurant ownership experience is going to be a smart investment.

Really though this all goes back to the core issue here, which is the desire to work hard to get what you want. If I recall the OP's posts correctly, there was always an excuse being made for his life situation. For someone like myself who worked part time jobs and made a lot of personal sacrifices to support my business as it was growing, I have little sympathy for someone that isn't spending every waking moment of their day working or looking for work instead of taking a government handout.

 

[tbone717]

Exactly... why would you want to EARN an extra $100 per month when it would cause you to lose a $500/mo benefit?


I see this as the major problem with the "food stamps" etc. system as well. It creates INCENTIVE to keep below requirements because the moment you're a penny over... you lose hundreds per month.

CITIZENS's DIVIDENDS

I think the "food stamp" system is necessary... there are many genuinely needy that would starve without the program (there are many a senile, severely handicapped, mentally ill, etc. amongst us). The GREATEST problem lies in the disincentive created when you're at the poverty line to ever make it above the poverty line. I think every man woman and child should get stamps; equal rations for all... For those that need them... they eat. For those that don't need them... they're a kick back on what you pay in... and you still eat. For those that are at the poverty line... they are a safety PLATFORM instead of a safety NET from which to improve yourself, take risk, and grow economically without ever having to worry about losing your benefit and being worse off just because you get a $1 raise. And for those that want to give them back... I say you get a income tax % reduction every year you decline your dividend.

I think if we're going to have welfare programs... then they should not be for the needy, but for all. Entitlements for "degenerate" groups only creates more degenerates.


thoughts?

flames?

presence

The government always screws things up. Let private organizations feed the poor. Granted we need a transition period to do this, but if I were king I would transfer the program through block grants to local charities and then slowly phase it out as the entitlement system as a whole transferred from the public to private sector.

 

[rolik]

i dropped out of high school at age 16 to get my life started faster. i realized in school they kill your creativity and tell you to follow the system and eventually get a job working for a company. i said fuck that and started my own business, while everybody my age was out hooking up with girls and hitting bongs i was working 10-14 hours a day. now im 19 and doing 100k+ a year and own a marketing firm hiring people who went to college and got their degrees

edit: what also really irritates me is telling people im lucky and got it easy. they dont realize i sacrificed my teen years working my ass off.

 

[tttppp]

From my own experience in business (which is over 25 years), I never knew of someone who had an idea alone and was 100% financed through outside investors, especially something as generic as a restaurant. Yeah, yeah I know he has a really cool restaurant idea, but restaurants as a whole are a very risky investment.

When it comes to investments, concept is important, but what matters the most is the potential return on investment and that can only be demonstrated through a track record of existing sales. It would be really hard to convince me that a restaurant being run by someone with no previous restaurant ownership experience is going to be a smart investment.

Really though this all goes back to the core issue here, which is the desire to work hard to get what you want. If I recall the OP's posts correctly, there was always an excuse being made for his life situation. For someone like myself who worked part time jobs and made a lot of personal sacrifices to support my business as it was growing, I have little sympathy for someone that isn't spending every waking moment of their day working or looking for work instead of taking a government handout.

Like I said, I don't know this particular person, so I'm not saying I'm backing him. All I'm saying is that there's nothing that should be stopping him from creating his own business. The fact that he is young shouldn't hurt him. Investors have backed much dumber ideas than this one. His idea has potential. Most of the investments I've seen venture capitalists make, have very little potential. I mean they are really stupid pointless ideas that have very little chance of going big.

As long as he can figure out his concept and convince investors he's the guy for the job, I would think he would be ok.

 

[tttppp]

i dropped out of high school at age 16 to get my life started faster. i realized in school they kill your creativity and tell you to follow the system and eventually get a job working for a company. i said fuck that and started my own business, while everybody my age was out hooking up with girls and hitting bongs i was working 10-14 hours a day. now im 19 and doing 100k+ a year and own a marketing firm hiring people who went to college and got their degrees

edit: what also really irritates me is telling people im lucky and got it easy. they dont realize i sacrificed my teen years working my ass off.

People are stupid. When I worked at an auditing firm, many times our employees would talk about how lucky the owner of the business was and how they are smarter than him. I always told them that the owner took a risk that most people are too scared to take, and got rewarded for it. Meanwhile they sat on their ass pushing papers.

 

[tttppp]

In your case, palm...it is simple..1. Stop giving them to your sister which is illegal and is EVERYTHING that is wrong with the system. It is scary how freely you admitted to committing fraud on a public message board. If someone wanted to screw you, they could make sure this board got into the hands of the authorities, and you would't have to worry about how to get off them. Because you would be declared ineligible and possible face prosecution. In many states, you would not be allowed to even reapply for a year, and your sister would not be allowed to apply for 6 months.
2. Stop thinking that jobs that you are being offered is "beneath you" and take it. If you are taking my money..you don't get the luxury of being picky. IF you are taking money, then you are not beneath a job cleaning the toilets in a Taco Bell. In the last 4 years, tens of thousands of high school and college kids have gotten jobs. You could too but you think you are "Better" than the jobs being offered. You aren't.


Also...having a great GPA in college does not matter. This is not 1950. IT is 2012. First of all...what is your major? Does your degree contain the letter A or S? If it contains the letter A, you have wasted 4 years of your life. You now has a useless piece of paper.

Some of the things you said are quite disturbing. You say "I should be able to get by without food stamps" But WHY? You are saying you DESERVE to have the exact job you want? No one has the RIGHT to work in a specific job field.

You are like the morons sitting outside whining on Wall Street thinking everyone OWES you something because you want it. Well..no one owes you anything. And I have some BAD news for you..things are not going to get better.

Even if Ron Paul wins and the constitution is changed to allow him to run and be president for the next 20 years, you are not going to magically get that exact job you want

Well technically he pays his taxes, so I would argue the government does owe him something in return. If the government offered me food stamps, I'd take it because I'd just be getting back what they stole from me.

 

[Danke]

I think Palm wanting to open up a restaurant is commendable.

But it is a lot of work. Probably need to start out working for someone who owns a restaurant. Work your way up to be a manager and learn the business.

Then you might find investors who will support your going independent. And that might even be the owner you worked for it you bust your ass.

I know a guy who didn't know anything about running a restaurant that got into Jimmy Johns 10 years ago. He ended up with 8 restaurants, and is now down to 4 making all kinds of money. He sold a couple of his restaurants to former managers that worked for him.

 

[heavenlyboy34]

Yeah, I get disgusted with people my age (i'm 29) and especially younger now who are always talking shit about what they're 'going to do', but that never want to get off of their ass to actually put in the work to get there. Our society is turning into a bunch of bitches who want, want, want, but don't want to do the hard work to get to it. They assume that they can just go to school, get a few good marks by teachers who don't give enough of a shit to teach but are more interested in just passing you through the system, and they'll graduate and land a job paying them six digits.

Palm, that isn't the way life works, bud. Be prepared to start at the bottom of the ladder doing relatively monotonous, shitty work until you've proven yourself. You work hard, get promoted, and work to where you want to go. You don't get what you want right away because you think you're awesome and 'deserve' it.

True, but I've seen this attitude in people of all ages. I suspect it's from being spoiled children. The good thing is it leaves high-paying jobs for people who aren't sissies.

 

[palm]

Thanks for everything thus far. I actually worked for the city here in my town as a temp job, I did not feel the work was beneath me. Honestly no work is beneath me. I do think its true that God created me for work, especially with people.


My restaurant job will take some capital. The main reason Im going to school is not work, as I could not get any job when I graduate then I could now. But I have decided for myself that is something I want to accomplish, it is a status symbol to me, to the effect that no one in my immediate family has done college. I also have a lot to learn, and I have never had academic problems. So I just want to have that idea cemented, perhaps there is another way. I must say, all of you really impress me and these forums never cease to amaze me with the amount of dedicated people. I would really like to know what it was like day in day out going it your own, what is the first step, the things to look out for, what information do I need, how will I need to carry myself?

 

[palm]

@ Rolik

Did you write out a plan, or did it come naturally?

Were you the type to get things done right off the bat?

 

[palm]

I don't* feel like im entitled though, to be honest Im ashamed of people in my economic group sometimes. My goal is to really put myself in a position to show people like myself the futility of the very same thing were discussing. I grew up through some somewhat tough stuff. I never really had much, could have used some confidence